Smartcool Systems Inc. (TSX-V: SSC) announced its results for the third quarter of 2010 today. The third quarter of 2010 saw revenues of $1,098,949, an increase of $417,138 or 61% compared to $681,811 for the third quarter of 2009. This continued growth can be attributed to advances in both direct sales to end users which contributed 53% ($584,875) and distribution sales of 47% ($514,074) to the company's total revenue ($1,098,949).

Highlights:

  • Gross profit for the quarter increased by $334,848 to $794,184 (72% of revenue) from $459,336 (67% of revenue) for the third quarter of 2009.

  • General and administrative expenses for the quarter decreased to $751,037 from $809,018 for the same quarter of 2009.

  • Net loss for the quarter was $259,725 ($0.01 per share), decreased by $248,284 or 53% from $471,100 ($0.01 per share), for the third quarter of 2009.

  • The company had $622,422 in cash and cash equivalents at the end of the quarter, compared to $164,434 in cash and cash equivalent and short-term investments of $252,822 at the end of the third quarter of 2009.

  • With its distribution channels steadily expanding and positive cash flow being generated from operations this quarter ($142,742), management is confident that the company will continue executing on its strategic business plan in the next twelve months.

As of November 25, 2010, the outstanding shares are 46,821,396 and diluted are 55,482,096.

The detailed financial statements can be found at www.sedar.com.

About Smartcool

Smartcool Systems Inc. (TSX-V: SSC) delivers cutting edge energy efficiency and cost reduction solutions for businesses around the world. The ESM™ and ECO3™ are Smartcool’s unique retrofit technologies that reduce the energy consumption of compressors in air conditioning, refrigeration and heat pump systems. Energy savings achieved by the ESM™ and ECO3™are quantifiable and the products can qualify for government and utility rebates. The technology has been validatedby rigorous third party testing, government organizations and private business installations.

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

 

 

Investor Inquiries

Mike Kordysz
Tel: +1 604 904 8632
mike.kordysz@smartcool.net

TSX-V: SSC
OTC: SSCFF
Frankfurt: R3W

Press Release RSS

Press Release RSS

Latest Press Releases

Smartcool Systems Inc. Adds Business Development Manager as Growth Continues to Accelerate in the UK

Vancouver, B.C. November 15, 2017, Steven Martin, Smartcool’s Executive VP EMEA, Smartcool Systems Inc. (TSXV: SSC OTC: SSCFF) is pleased to announce the addition of Julian Sylvester, an experienced Sales Executive who has an extensive background within the energy efficiency market.

Smartcool Continues to add Sales Staff as Growth Accelerates in the UK

Vancouver, B.C. October 25, 2017, Steven Martin, Smartcool’s Executive VP EMEA, Smartcool Systems Inc. (TSXV: SSC OTC: SSCFF) is pleased to announce the addition of a seasoned Sales Executive to the UK team with more to be announced soon. The additional sales executive, Jon Cullum, has an extensiv...

Smartcool Saves 30% Power Consumption At A Quick Serve Restaurant in Jamaica

Customer Operates 60 LocationsVancouver, B.C. October 17, 2017, Smartcool Systems Inc. (TSXV: SSC OTC: SSCFF) is pleased to announce the results from an initial installation at a Quick Serve Restaurant (QSR) in Kingston, Jamaica.

Smartcool Establishes North American Installation Network

Vancouver, B.C. September 26, 2017, Ted Konyi, CEO, Smartcool Systems Inc. (TSXV: SSC OTC: SSCFF) is pleased to announce that the company is establishing an installation and servicing network for its operations in North America.

Anesco Ltd., A Cleantech 100 Co. and Smartcool Progress Their Sustainable Technology and Energy Par…

The UK’s leading energy efficiency solutions provider and Sunday Times Fast Track 100 company, Anesco Ltd, have strengthened their No1 position in the UK by partnering with Smartcool to deliver further energy saving solutions.

Smartcool Distributor Installs at McDonald’s Chain in Riyadh

Achieves 20% Savings on Air-conditioning costs at The Luxury Tiara Hotel RiyadhVancouver, B.C. September 12, 2017, Smartcool Systems Inc. (TSXV: SSC OTC: SSCFF) is pleased to report that Kafaat Energy Company, its distributor in Saudi Arabia has been appointed by Riyadh International Catering C...

Smartcool 2nd Quarter Revenues Grow 300% over 1st Quarter

Vancouver, B.C. August 29, 2017, Smartcool Systems Inc. (TSXV: SSC OTC: SSCFF) is pleased to report that it has filed its Second Quarter Management Discussion and Analysis ("MD&A") and unaudited financial statements for the six-month period ended June 30, 2017, on SEDAR.

Smartcool Systems Inc. Announces Jamaican Partnership and Multiple Jamaican Installations

Vancouver, B.C. August 21, 2017, Smartcool Systems Inc. (TSXV: SSC OTC: SSCFF) is pleased to announce today a joint venture partnership with Alternative Power Sources Limited (“APS”) in Jamaica.

Smartcool Systems Inc. Announces First Funded Sale

Aug 14, 2017, Smartcool Systems Inc. (TSXV: SSC OTC: SSCFF)is pleased to announce today the first sale of a funded Smartcool installation. The sale was made to Loscoe Chilled Foods Ltd. and is expected to be installed over the next few weeks. Loscoe is in the food processing and distribution busine...

Smartcool Announces Private Placement Offering

Vancouver, BC. Aug 10, 2017, Ted Konyi, CEO, Smartcool Systems Inc. (TSXV: SSC) (the "Company") is pleased to announce a non-brokered private placement offering (the "Offering") of up to 8,000,000 units (the "Units") at a price of $0.05 per Unit, for maximum gross proceeds of $400,000.

Follow Us

Twitter   RSS Feed   YouTube   Linkedin   Facebook

Translate

English French German Italian Portuguese Russian Spanish